A Canadian entrepreneur by the name of Lorenzo Tartamella has set a new record for most crowdsourced logo ideas.
Lorenzo used DesignCrowd.ca to offer $10,000 for a new logo for his web property, TimeSquare.com. He wound up receiving more than 5,700 logo submissions—a new record, according to DesignCrowd. The designs came from over 1,300 designers and, all said and done, cost just $1.75 each for Lorenzo (when a single logo could cost $10,000 or more traditionally).
"We believe TimesSquare.com's $10,000 prize was the largest ever for an online logo contest and the first time an online logo crowdsourcing has received over 5,000 submissions for a client," says DesignCrowd CEO Alec Lynch. "The project is a fantastic case study in crowdsourcing and really highlights the power and creativity of the crowd."
"We needed to find a more creative approach to procuring a new logo design. I wanted the process to be easy, the design ideas to be more creative and the design talent to be global so I chose DesignCrowd to launch my contest," explains Lorenzo. "The process has exceeded our expectations and the world record is icing on the cake after a great experience."
The winning logo will be unveiled in Times Square on December 12. It will be followed by a book launch featuring a selection of the entries from the contest.
Update: As pointed out in the comments below, this Occupy movement campaign garnered nearly 8,000 designs from almost 1,600 designers with a payout of just $1,000.